What Is Section 179?
Section 179 of the IRS tax code enables businesses like yours to deduct the full purchase price of capital equipment, including diagnostic imaging equipment and/or software purchased or financed through the tax year. Whether you’ve purchased the equipment with cash, loan, capital lease, or Equipment Finance Agreement (EFA), you can likely deduct the full purchase price from your gross income.
Why Does It Matter For Your Business?
This deduction can make a large impact, giving you the ability to write off up to $1,050,000 qualifying equipment and software purchases on your 2021 tax return. Most tangible business equipment are qualified, must be purchased and put into use between January 1 and December 31 of the tax year you are claiming. Please consult with a tax professional or visit the Section 179 website for more details.
Time To Upgrade!
We invite you to take a good look at our diagnostic imaging solutions, as this is an exceptional opportunity to invest in your business and your future. Give ExamVue a call today at (516) 654-6955 to upgrade your diagnostic imaging equipment and software.